France’s AXA Group announced that it has successfully completed the acquisition of Winterthur. AXA reached agreement with Credit Suisse to acquire 100 percent of Winterthur, the Swiss bank’s insurance division, for CHF 12.3 billion (around $10 billion – €7.9 billion) …
France’s AXA Group announced that it has completed the sale of its subsidiary AXA RE’s business to Paris Re Holdings. The transaction closed on December 21, 2006. AXA first revealed plans for the restructuring in April, when it received a …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit ratings of “aa-” of German-based Allianz Societas Europaea (Allianz SE) and its subsidiaries. Best also affirmed the debt ratings of “aa-” on senior debt …
A UnumProvident Corp. regional vice president pleaded guilty to federal fraud charges in a case that caused losses of about $6.1 million for the nation’s largest disability insurer, prosecutors said. James Michael Foley, 49, of Germantown pleaded guilty last Thursday. …
Drunken-driving deaths declined slightly across the nation in 2005, and the rate of drunken-driving deaths fell in 23 states, according to transportation officials. The National Highway Traffic Safety Administration reported that 23 states and Puerto Rico had a decrease in …
A judge in a Texas widow’s lawsuit over the Merck & Co. drug Vioxx last Thursday reduced a $32 million jury award to about $7.75 million so that it conformed to state law. A state jury in April found Merck …
Arkansas’ new emergency operations center was dedicated last week and the building is expected to be completed in May. Arkansas Department of Emergency Management Director David Maxwell said the $13.5 million building will function as the command center for emergency …
Two minor earthquakes shook central Oklahoma, rattling nerves but causing no serious damage or injuries, authorities said. The quakes were centered in the Del City-Midwest City area east of Oklahoma City. The first struck at 8:41 p.m. last Wednesday with …
The third small earthquake in four days rattled the San Francisco Bay Area last Saturday, but there were no immediate reports of injury or damage. The temblor that struck Alameda County at 9:21 a.m. had a preliminary magnitude of 3.5 …
Five U.S. movie studios have won a court case against a Beijing shop accused of selling pirated copies of “Mr. & Mrs. Smith” and “War of the Worlds” and other titles, the Motion Picture Association said last week. The Beijing …
